The Employees' Provident Fund Organisation (EPFO) plays a crucial role in providing social security and financial stability to millions of people across India, said Union Minister for Labour and Employment, Dr. Mansukh Mandaviya.
Speaking at an event in the national capital, Dr. Mandaviya highlighted EPFO's transformative journey and its significant role in managing large savings for members, while enhancing social security services across the country.
The minister emphasized the need for a strong IT platform, an efficient grievance management system, and a member-focused approach to service delivery. He urged EPFO staff to live by the organization's slogan, “Hum Hai Na,” reminding them of their responsibility to serve the people every day.
Dr. Mandaviya stressed that true service is reflected in the impact employees have, whether by assisting those in need or resolving issues promptly. He also encouraged efforts to increase pension coverage and improve the last-mile delivery of services.
Furthermore, the minister called on EPFO officers and staff to maintain the highest standards of integrity, professionalism, empathy, and dedication in their service to members. “Continuous skill development and capacity-building are crucial for adapting to evolving challenges and improving service delivery,” he said.
In 2023-24, EPFO saw a 7.6% increase in contributing members, reaching 7.37 crore, up from 6.85 crore in 2022-2023. The number of establishments contributing to EPFO also grew by 6.6%, totaling 7.66 lakh. Additionally, the organization reported a 55.4% rise in recovering arrear dues, reaching Rs 5,268 crore, compared to Rs 3,390 crore the previous year. Claims settled also increased by 7.8%, from 4.45 crore to 4.12 crore.
The Executive Committee has recommended the report for adoption by the Central Board.
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